Thursday, October 29, 2020
Home Science & Technology India aims for at least 1,500 biotech start-ups in the coming years

India aims for at least 1,500 biotech start-ups in the coming years

Kolkata, “We presently have around 500 start-ups in the biotech sector. It is less in comparison with other sectors. We plan to scale it up to 1,500 to 2,000 in the next two to three years,” said Renu Swarup, department of biotechnology’s senior adviser and managing director of the Biotechnology Industry Research Assistance Council (BIRAC).

She pointed out that there was a growing market for biotech products and services given India’s population and its needs.

Biotech start-ups are into bio-pharma (diagnostics and therapeutics), agricultural (biofertilisers, hybrid seeds etc.), bioinformatics and drug development, etc.

They are directly or indirectly linked to the health and agricultural sectors,” Swarup told .

India aims to scale up start-ups in the biotechnology sector to at least 1,500 in the next two to three years to boost technological interventions in the health and agriculture sectors, a senior biotechnology department official said.

Prime Minister Narendra Modi earlier this year announced a ‘Start-up India, Stand up India’ campaign to promote bank financing for start-ups and offer incentives to boost entrepreneurship and job creation.

“Under the new initiative, if we can create a favourable business environment, we can tap into our own products and know-how for solutions in health and agriculture,” she said.

It would also help researchers to become ‘tech-preneurs’.

“We have seen good interventions happening in Odisha and Tamil Nadu,” said Swarup.

The Indian biotech industry holds about two percent share of the global biotech sector. At present India is ranked 12th in the world in the biotech sector and third in the Asia-Pacific region.

By 2017, the size of India’s biotech industry is estimated to increase to $11.6 billion from $4.3 billion in 2012.

Indian biotech entrepreneur Kiran Majumdar Shaw has said that the emergence of biotech start-ups is resulting in a reverse brain drain.

Currently, Swarup said, new products have emerged from the Grand Challenges India (GCI) Interventions. The GCI was jointly launched by BIRAC under the department of biotechnology and the Bill and Melinda Gates Foundation in 2013.

“These include improved sanitation technologies and bio-digester designs. Initially, they will be showcased as demonstrations on a large scale and subsequently introduced in the market,” she said.

( IANS)
(Photo Credit : bagbiotechnika.com)

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,780FollowersFollow

Most Popular

Trending Jewelry for the Celebration of Karwachauth

Karwachauth is a special occasion for married couples. In addition to its symbolic importance, women also lay emphasis on how they look. Karwachauth fashion is...

Here’s How to Make Equipment-Free Workout Effective

If you think going to a gym and using equipment is the only way to an effective workout, think again! "Your body" is the...

Connaught Place Witnesses Dull Business During Diwali

Even as the people have begun to venture out in the wake of relaxations in restrictions amid the coronavirus pandemic, the footfall of potential...

Study Shows Rapid Decline of COVID Antibodies

Researchers in the UK have found that antibodies against COVID-19 declined rapidly in the hundreds of thousands of people across England. According to CNN, the...

High Intake of Vitamin A, E and D Leads to Fewer Respiratory Complaints

Amid the COVID-19 pandemic, researchers, including one of Indian-origin, have found that high intake of vitamins A, E, and D may be linked to...

Most Rely on Digital Communication to Stay Connected in Lockdown

COVID-19 has further accelerated the importance of digital connections in India, as a new survey on Wednesday revealed that nearly four out of five...

Scientists Reckon Risk of COVID Airborne Transmission

The continued increase in COVID-19 infections around the world has led scientists to study the dynamics of airborne transmission. In the study, published in the...

Hotel Occupancy Increased in India by 10-12% in September

The hospitality segment which was brought to a grinding halt by the pandemic is slowly witnessing an improvement in demand as hotel occupancy in...

Recent Comments